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New York, USA - Crowne Plaza Times Square
Tuesday, 19 September - 16:00–18:00
In addition to traditional public finance instruments such as grants and concessional loans, innovative instruments are needed to mobilize private capital at the scale required to keep global warming well below 2°C. Climate auctions, which set a minimum price for future emission reductions, can maximize efficiency, transparency, and climate impact per public dollar while incentivizing private investment in low-carbon technologies. The World Bank’s Pilot Auction Facility for Methane and Climate Change Mitigation (PAF) recently concluded a series of pilot auctions to test this innovative approach, allocating a total $53 million in climate finance to support emission reductions of over 20 million tCO2e. There is increasing interest in the climate finance and carbon market communities to replicate and scale up this approach.
The World Bank Group and Rocky Mountain Institute will host a roundtable discussion on pathways for scaling and replicating climate auctions in New York City on Tuesday, September 19 th . This discussion will include an overview of this advanced climate finance instrument, a review of lessons learned from pilot auctions, and brainstorming of applications for climate auctions in international and domestic contexts. The discussion will be followed by a cocktail reception.
We invite you to join this discussion with other leading practitioners and experts at this critical time in the evolution of climate finance and carbon markets. Please RSVP to PAF_Secretariat@WorldBank.org.